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Report Date : |
31.07.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Bur |
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Country : |
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Date of Incorporation : |
15.08.2011 |
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Com. Reg. No.: |
1080948 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged in the import and export of precious metals, pearls and stones. |
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No of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
UAE - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income and
a sizable annual trade surplus. Successful efforts at economic diversification
have reduced the portion of GDP based on oil and gas output to 25%. Since the
discovery of oil in the UAE more than 30 years ago, the country has undergone a
profound transformation from an impoverished region of small desert
principalities to a modern state with a high standard of living. The government
has increased spending on job creation and infrastructure expansion and is
opening up utilities to greater private sector involvement. In April 2004, the
UAE signed a Trade and Investment Framework Agreement with
|
Source
: CIA |
Company Name : SANGHVI TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 15th August 2011
Commercial Registration Number : 1080948, Dubai
Trade Licence Number : 657873
Chamber Membership Number : 197583
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Import and export of precious metals, pearls and stones
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
SANGHVI TRADING LLC
Location : Bur Dubai
PO Box : 50675 & 126153
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3869691
Facsimile : (971-4) 3869691
Mobile : (971-50) 8428641
Email : sanghritradingllc@gmail.com
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
·
Jinesh
Lalith Jayan Nihalchand Indian Managing
Director
·
Kozhiparambil
Kunhi Velayudhan Shijith Indian Director
·
Saleh
Ahmad Hassan Al Haj Emirati Director
Date of Establishment : 15th
August 2011
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1080948,
Dubai
Trade Licence No. : 657873
(Expires 14/08/2014)
Chamber Member No. : 197583
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Saleh
Ahmad Hassan Al Haj 51%
·
Jinesh
Lalith Jayan Nihalchand 25%
·
Kozhiparambil
Kunhi Velayudhan Shijith 24%
Activities: Engaged
in the import and export of precious metals, pearls and stones.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 4 employees.
Companies
registered in Dubai are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Noor
Islamic Bank
Grosvenor Tower, Ground Floor
Sheikh Zayed Road
Dubai
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject enjoys a good reputation for the quality of its products with
nothing detrimental uncovered regarding the manner in which operations are
conducted. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.15 |
|
|
1 |
Rs. 101.92 |
|
Euro |
1 |
Rs. 80.64 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.